MetLife Investment Management LLC Raises Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

MetLife Investment Management LLC lifted its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,132 shares of the software maker's stock after acquiring an additional 2,688 shares during the quarter. MetLife Investment Management LLC owned 0.06% of Manhattan Associates worth $10,035,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MANH. Massachusetts Financial Services Co. MA lifted its holdings in shares of Manhattan Associates by 101.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock worth $452,321,000 after acquiring an additional 841,276 shares during the last quarter. Norges Bank bought a new stake in shares of Manhattan Associates in the 4th quarter worth about $201,377,000. JPMorgan Chase & Co. lifted its holdings in shares of Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock worth $284,169,000 after acquiring an additional 687,933 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock worth $517,917,000 after acquiring an additional 578,295 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Manhattan Associates by 275.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker's stock worth $131,539,000 after acquiring an additional 357,172 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Price Performance

NASDAQ MANH traded up $0.37 during trading on Friday, reaching $174.58. 569,609 shares of the company's stock traded hands, compared to its average volume of 570,881. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 49.74 and a beta of 1.36. The company's 50 day simple moving average is $169.19 and its two-hundred day simple moving average is $233.92. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares of the company's stock, valued at $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup reduced their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Robert W. Baird reduced their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 18th. William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. DA Davidson raised their price target on shares of Manhattan Associates from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $212.38.

Manhattan Associates Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.